Example of use of round numbers, for support and resistance level definition.
The lines of resistance, support based on mass psychology. Similar reasoning, the behavior of a large number of investors in the market, allows sophisticated investors using them.
People love round numbers.
When placing an order (Entry, Stop, Limit) investors prefer round in front of random numbers. This phenomenon has been proven and tested on the market, smart investors to predict the level of resistance and support.
Another interesting phenomenon is that the strength of some level of support or resistance tends to increase with increase in the level of rounding.
For example, the 1.0 has more power than 1.5, 1.5 has more power than 1.6, 1.6 has more power than 1.61 ...
A similar tool by Alex.
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